AMERICAN FARM BUREAU FEDERATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1920

Legal Domicile

Principal Officer

JOBY YOUNG

Phone

2024063600

Tax Period

2023-12-01 to 2024-11-30

AMERICAN FARM BUREAU FEDERATION, founded in 1920, is a mid-sized nonprofit that reported $36.7M in total revenue in fiscal year 2023. Expenses of $33.3M left a modest 9% surplus.

Mission

THE AMERICAN FARM BUREAU FEDERATION IS THE VOICE OF AGRICULTURE (R). WE ARE FARM AND RANCH FAMILIES WORKING TOGETHER TO BUILD A SUSTAINABLE FUTURE OF SAFE AND ABUNDANT FOOD, FIBER AND RENEWABLE FUEL FOR OUR NATION AND THE WORLD.

Program Service Accomplishments

Program 1

PUBLIC POLICY - POLICY IS CONTINUALLY EVOLVING AND HAS A DIRECT IMPACT ON AMERICA'S FARMERS AND RANCHERS. AFBF'S WORK IN WASHINGTON, D.C., IS DRIVEN BY THE POLICY PRIORITIES ESTABLISHED BY FARMER AND RANCHER MEMBERS FROM ACROSS THE COUNTRY AT AFBF'S ANNUAL MEETING OF VOTING DELEGATES. THESE DELEGATES ARE FAMILY FARMERS WHO OPERATE SMALL, MEDIUM, AND LARGE FARMS GROWING OR RAISING VIRTUALLY EVERY AGRICULTURAL PRODUCT PRODUCED IN AMERICA TODAY. THIS NATIONAL FARMER DELEGATE BODY IS WHAT ENSURES AFBF'S POLICY OBJECTIVES ARE TRULY DRIVEN BY THE INTERESTS OF AMERICA'S FARMERS. ONCE THOSE GOALS ARE SET, AFBF WORKS WITH STATE AND COUNTY FARM BUREAU ORGANIZATIONS NATIONWIDE TO ENGAGE FARMERS AND RANCHERS IN OUR POLICY ADVOCACY, ENABLING ALL OF AGRICULTURE TO SPEAK WITH ONE VOICE THROUGH AFBF.

Program 2

EVENTS - IDEAG GROUP LLC, AN AFFILIATE OF AFBF, DELIVERS AN OPTIMAL EXPERIENCE TO ATTENDEES, EXHIBITORS, AND THOUGHT LEADERS IN AGRICULTURE AT REGIONAL FARM SHOWS. INTERACTIVE, CONTENT-RICH, AND...

EVENTS - IDEAG GROUP LLC, AN AFFILIATE OF AFBF, DELIVERS AN OPTIMAL EXPERIENCE TO ATTENDEES, EXHIBITORS, AND THOUGHT LEADERS IN AGRICULTURE AT REGIONAL FARM SHOWS. INTERACTIVE, CONTENT-RICH, AND HIGH-VALUE PROGRAMMING IS THE CORNERSTONE OF EVERY SHOW. WE MAKE IT A PRIORITY TO CONNECT FARMERS AND RANCHERS TO TOP-NOTCH GOODS AND SERVICE PROVIDERS FROM ACROSS THE COUNTRY WHO CAN MEET THEIR NEEDS. WE DO THE SAME AT AFBF'S ANNUAL CONVENTION WHERE THOUSANDS OF FARM BUREAU MEMBERS AND OTHERS INTERESTED IN AGRICULTURE GATHER EACH JANUARY. CONVENTION ATTENDEES HAVE ACCESS TO CUTTING EDGE ANALYSIS, DEEP INSIGHTS, A BUZZING TRADE SHOW FLOOR, AND FIRST-RATE KEYNOTE SPEAKERS AND WORKSHOPS.

Program 3

LEADERSHIP, EDUCATION & ENGAGEMENT - AS PUBLIC INTEREST IN THE FOOD SYSTEM CONTINUES TO GROW - INCLUDING IN FOOD SECURITY, SUSTAINABILITY, NUTRITION, AND ANIMAL CARE, IT'S MORE IMPORTANT THAN EVER...

LEADERSHIP, EDUCATION & ENGAGEMENT - AS PUBLIC INTEREST IN THE FOOD SYSTEM CONTINUES TO GROW - INCLUDING IN FOOD SECURITY, SUSTAINABILITY, NUTRITION, AND ANIMAL CARE, IT'S MORE IMPORTANT THAN EVER FOR FARMERS AND RANCHERS TO FEEL COMFORTABLE ENGAGING WITH THE PUBLIC, POLICYMAKERS, AND MEDIA. AFBF PROVIDES INTENSIVE TRAINING IN LEADERSHIP AND EFFECTIVE OUTREACH, STRENGTHENING THE ABILITY OF FARMERS AND RANCHERS TO CONNECT WITH CONSUMERS AND OTHERS, AND TO SERVE AS LEADERS IN RURAL COMMUNITIES. SKILLS LEARNED ARE APPLIED AT THE LOCAL, STATE AND FEDERAL LEVELS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $106,500

Program Service Revenue $33,415,505

Investment Income $2,240,518

Other Revenue $930,737

TOTAL REVENUE $36,693,260

Expense Breakdown

Grants Paid $348,583

Salaries & Benefits $17,831,902

Fundraising Expenses $0

Other Expenses $15,141,154

TOTAL EXPENSES $33,321,639

Year-over-Year Comparison

	2023	2022	Change
Revenue	$36,693,260	$37,324,023	0.0%
Expenses	$33,321,639	$32,065,723	+0.0%
Net Income	$3,371,621	$5,258,300	-0.4%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

156

Volunteers

200

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,063,183

Total Directors

$968,990

Key Employees

$323,310

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
VINCENT DUVALL	PRESIDENT	40.00	Officer Director	$645,759	$39,906	$685,665
SCOTT VANDERWAL	VICE PRESIDENT	2.00	Officer Director	$50,875	$0	$50,875
ALLEN CARTER JR	DIRECTOR	2.00	Director	$3,000	$0	$3,000
BRYAN SEARLE	DIRECTOR	2.00	Director	$6,750	$0	$6,750
CARLYLE CURRIER	DIRECTOR	2.00	Director	$300	$0	$300
DAN GLESSING	DIRECTOR	2.00	Director	$6,150	$0	$6,150
DAVID FISHER	DIRECTOR	2.00	Director	$5,850	$0	$5,850
ERIC MAYBERRY	DIRECTOR	2.00	Director	$16,050	$0	$16,050
HARRY OTT	DIRECTOR	2.00	Director	$11,400	$0	$11,400
ISABELLA CHISM	DIRECTOR	2.00	Director	$16,350	$0	$16,350
JEB SMITH	DIRECTOR	2.00	Director	$13,200	$0	$13,200
JIM HARPER	DIRECTOR (THRU 6/30/2024)	2.00	Director	$900	$0	$900
KEVIN LUSSIER	DIRECTOR	2.00	Director	$800	$0	$800
MARK HANEY	DIRECTOR (THRU 12/02/2023)	2.00	Director	$13,650	$0	$13,650
MARK MCHARGUE	DIRECTOR	2.00	Director	$11,850	$0	$11,850
MATT FIMON	DIRECTOR (THRU 01/23/2024)	2.00	Director	$12,500	$0	$12,500
MIKE MCCORMICK	DIRECTOR	2.00	Director	$8,100	$0	$8,100
PAUL LARSON	DIRECTOR	2.00	Director	$2,400	$0	$2,400
RODD MOESEL	DIRECTOR	2.00	Director	$16,950	$0	$16,950
RUSSELL BOENING	DIRECTOR	2.00	Director	$10,800	$0	$10,800
SCOTT MUGRAGE	DIRECTOR	2.00	Director	$5,700	$0	$5,700
SHAWN HARDING	DIRECTOR	2.00	Director	$43,950	$0	$43,950
TOM MCCALL	DIRECTOR	2.00	Director	$8,700	$0	$8,700
WAYNE PRYOR	DIRECTOR	2.00	Director	$12,900	$0	$12,900
WAYNE STAFFORD	DIRECTOR (THRU 12/08/2023)	2.00	Director	$4,200	$0	$4,200
ANGELA BAILEY	DIRECTOR	2.00	Director	$0	$0	$0
CARL BEDNARSKI	DIRECTOR	2.00	Director	$0	$0	$0
BRIAN DUNCAN	DIRECTOR	2.00	Director	$0	$0	$0
RICHARD FONTENOT	DIRECTOR	2.00	Director	$0	$0	$0
RICHARD GUEBERT JR	DIRECTOR (THRU 12/06/2023)	2.00	Director	$0	$0	$0
GARRETT HAWKINS	DIRECTOR	2.00	Director	$0	$0	$0
RICH HILLMAN	DIRECTOR (THRU 12/01/2023)	2.00	Director	$0	$0	$0
CHRIS HOFFMAN	DIRECTOR	2.00	Director	$0	$0	$0
JAMIE JOHANSSON	DIRECTOR (THRU 12/05/2023)	2.00	Director	$0	$0	$0
BRENT JOHNSON	DIRECTOR	2.00	Director	$0	$0	$0
KEVIN KRENTZ	DIRECTOR (THRU 12/04/2023)	2.00	Director	$0	$0	$0
RANDY KRON	DIRECTOR	2.00	Director	$0	$0	$0
EDDIE MELTON	DIRECTOR	2.00	Director	$0	$0	$0
JOE NEWLAND	DIRECTOR	2.00	Director	$0	$0	$0
JIMMY PARNELL	DIRECTOR	2.00	Director	$0	$0	$0
STEFANIE SMALLHOUSE	DIRECTOR (THRU 11/21/2024)	2.00	Director	$0	$0	$0
DAN WRIGHT	DIRECTOR	2.00	Director	$0	$0	$0
ELLEN STEEN GREER	GENERAL COUNSEL & SECRETARY	40.00	Officer	$376,767	$81,096	$457,863
KATHLEEN J CULLINS	CFO & TREASURER	40.00	Officer	$367,655	$49,660	$417,315
JOBY YOUNG	EXECUTIVE VP	40.00	Officer	$429,432	$22,033	$451,465
SAMUEL KIEFFER	VP, PUBLIC POLICY	40.00	Key Emp	$262,213	$61,097	$323,310
MARGARET WOLFF	VP, LEAD, EDUC AND ENGAGE	40.00	Highest	$277,762	$137,795	$415,557
TERRI MOORE	VP, COMMUNICATIONS	40.00	Highest	$293,490	$28,110	$321,600
BRIAN ANDERSON	ED, TECHNOLOGY	40.00	Highest	$244,505	$43,350	$287,855
TRAVIS CUSHMAN	DPTY GEN COUNS, LIT & PUBL	40.00	Highest	$251,697	$35,757	$287,454
MELISSA SANDERS CARROLL	EXECUTIVE DIRECTOR, IDEAG	40.00	Highest	$234,878	$24,140	$259,018

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$36,693,260	$33,321,639	$125,601,852	$3,371,621
2023	$37,324,023	$32,065,723	$108,380,691	$5,258,300
2022	$35,509,348	$31,737,618	$87,420,763	$3,771,730
2021	$33,384,645	$27,116,498	$90,939,255	$6,268,147
2020	$35,645,862	$28,750,206	$81,210,093	$6,895,656
2019	$37,584,582	$32,544,856	$72,072,459	$5,039,726
2018	$33,120,359	$30,436,519	$66,066,059	$2,683,840